Link: https://links.sgx.com/1.0.0/corporate-announcements/0IGL1C4T4FFUNYXI/b94c9cd475f863e2bbaabd80b585e97ed1d0fa66dfac1f9d8db578cb195e83a0

Summary:

• Revenue for six months ended September 30, 2025 declined 6.9% year-on-year to ¥2,219.5 billion, impacted by generic erosion in Neuroscience (notably VYVANSE in US) and unfavorable forex rates.

• Net profit attributable to owners fell 40% to ¥112.4 billion; operating profit dropped 27.7% to ¥253.6 billion.

• Total comprehensive income soared to ¥365.4 billion, reversing prior year’s large loss due to positive FX translation adjustment and asset revaluation.

• All key regions mostly stable; some growth in China, Europe/Canada, and Japan offsetting US revenue drop.

• H1 core operating profit was ¥639.2 billion, down 11.2% year-on-year; core EPS at ¥279, down 10%.

• Board declared interim dividend of ¥100/share, with full-year dividend projection unchanged at ¥200/share.

• Full-year FY2025 profit forecast revised sharply lower, with net profit expected at ¥153 billion (down 32.9%); guidance now calls for low-single-digit decline in core profit and EPS.

• Impairment losses for discontinued R&D programs totaled ¥58.2 billion in H1.

• Management expects flat revenue, negative impact from loss of exclusivity, and renewed product launches to drive transition in second half.